General Dynamics CorporationNYSE
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  • Thu, Dec. 8, 5:57 PM
    • Shares of defense giants Lockheed Martin (NYSE:LMT), Northrop Grumann (NYSE:NOC), Raytheon (NYSE:RTN) and General Dynamics (NYSE:GD) slipped in today's trade, giving back a bit of the group's strong gains enjoyed since election day: LMT -2.7%, NOC -3.8%, RTN -1.8%, GD -2.6%.
    • Cowen analysts warn that while Pres.-elect Trump's Air Force One criticism likely will not hurt Boeing, his habit of using Twitter as a bully pulpit could pose a bigger risk for LMT and NOC, which have big-ticket defense contracts.
    • "This is in line with his campaign comment that he wants to boost defense spending but feels DoD could 'buy smarter,'" Cowen says. "Presumably he won't comment on all defense contracts but will focus on high profile programs. However, given his power as president, this can have an impact on specific programs."
    • LMT's F-35 program has long been criticized for its $400B development and acquisition price tag, and NOC's B-21 bomber recently has been hit for not disclosing a fuller estimate on its cost, which analysts estimate at $50B-$80B.
    | Thu, Dec. 8, 5:57 PM | 19 Comments
  • Wed, Dec. 7, 4:12 PM
    • General Dynamics (NYSE:GD) declares $0.76/share quarterly dividend, in line with previous.
    • Forward yield 1.71%
    • Payable Feb. 10; for shareholders of record Jan. 20; ex-div Jan. 15.
    | Wed, Dec. 7, 4:12 PM | 1 Comment
  • Thu, Dec. 1, 10:34 AM
    • General Dynamics Electric Boat (GD +0.6%) will christen Colorado (SSN-788), the U.S. Navy's newest and most advanced nuclear attack submarine, at a ceremony at its shipyard on Saturday.
    • The submarine is the 15th ship of the Virginia Class, equipped to wage multi-dimensional warfare around the globe.
    | Thu, Dec. 1, 10:34 AM | 5 Comments
  • Thu, Dec. 1, 4:00 AM
    • The EU plans to boost its defense budget to its highest level in over a decade, setting up a €5B fund and sending a signal to Donald Trump that it intends to pay for its own security.
    • "This is not about an EU army, this is not about spending on the military instead of social security," European Commission Vice President Jyrki Katainen said. "We face multiplying threats and we must act."
    • Related tickers: LMT, RTN, GD, NOC, OA, HII, HON, UTX, ITT, TXT, LLL, COL
    | Thu, Dec. 1, 4:00 AM | 13 Comments
  • Wed, Nov. 9, 5:34 AM
    • Donald Trump has called for eliminating the sequester on defense spending and initiating a military buildup, boosting troop levels and the number of ships and aircraft.
    • He seeks to fully offset the cost through "common sense reforms that eliminate government waste and budget gimmicks" and additional payments from countries where the U.S. has military bases, including Germany, Saudi Arabia and Japan.
    • Premarket movement: LMT +4.5%, RTN +1.7%, GD, BA, NOC, OA, HII, HON, UTX, OTCPK:EADSF, ITT, TXT, LLL, OTCPK:BAESY, OTCPK:FINMY, COL
    • #Election2016
    | Wed, Nov. 9, 5:34 AM | 60 Comments
  • Mon, Oct. 31, 8:30 AM
    • Business jet makers will deliver fewer planes next year, according to Honeywell, deepening a downward spiral caused by slow global growth and lower oil prices.
    • The forecast anticipates a low single-digit percentage decline in the number of jets delivered in 2017 as buyers wait for models arriving in 2018 and 2019.
    • Honeywell also cut its 10-year outlook for business jet deliveries, saying it expects plane manufacturers to supply 8,600 new jets valued at $255B through 2026, down from 9,200 jets worth $270B it forecast last year.
    | Mon, Oct. 31, 8:30 AM | 1 Comment
  • Wed, Oct. 26, 9:01 AM
    • Earnings from continuing operations of $767M, or $2.48 per diluted share vs. $733M, or $2.28 per diluted share in the same quarter a year ago.
    • Operating margin of 13.8%, a 90 bps improvement. Return on sales of 9.9%.
    • Total backlog at the end of the quarter was $62B. Total potential contract value was $87.2B.
    • GD +2.7% premarket
    • Q3 results
    | Wed, Oct. 26, 9:01 AM | 1 Comment
  • Wed, Oct. 26, 7:31 AM
    • General Dynamics (NYSE:GD): Q3 EPS of $2.48 beats by $0.10.
    • Revenue of $7.73B (-3.3% Y/Y) misses by $180M.
    • Press Release
    | Wed, Oct. 26, 7:31 AM | 2 Comments
  • Tue, Oct. 25, 5:30 PM
  • Sat, Oct. 8, 8:25 AM
    • This is the bottom” for Honeywell's (NYSE:HON) businesses exposed to the oil and gas industries, but troubles in the business jet industry “will get worse” next year, CEO David Cote said Friday, a day after the company cut its earnings and sales forecast, causing shares to slide 7.5% in their worst showing in five years.
    • "This was a surprise," says William Blair's Nick Heymann, as HON had been considered a safe-haven stock amid sluggish industrial growth, on Cote's reputation and record of delivering on profit targets.
    • Morgan Stanley analyst Nigel Coe compared HON’s announcement to a “paella bowl” dropped in front of investors and said “credibility is becoming a growing issue.”
    • Other analysts are more confident: J.P. Morgan's Steve Tusa says "it's not that bad in the grand scheme," noting that HON’s profits are off ~5% YTD, roughly in line with its industrial peers.
    • “While this quarter and maybe next quarter look to be a little bit worse than anticipated, we still believe they’re well positioned long term to benefit from growth opportunities," according to Edward Jones' Jeff WIndau.
    • HON supplies parts to Textron (NYSE:TXT) and General Dynamics (NYSE:GD), which fell a respective 3.6% and 0.8% yesterday, while aerospace parts makers Heico (NYSE:HEI), B/E Aerospace (NASDAQ:BEAV) and TransDigm (NYSE:TDG) each slid more than 1%; also, GE slipped 0.6%, United Technologies (NYSE:UTX) fell 1.5%, and Boeing (NYSE:BA) lost 0.4%.
    | Sat, Oct. 8, 8:25 AM | 25 Comments
  • Fri, Sep. 23, 6:49 PM
    • Smith & Wesson (SWHC -0.2%) is off 3.5% after hours after its bid to replace the Army's standard sidearm, a Beretta M9, was rejected by the service.
    • "We and our partner" -- General Dynamics (GD -0.7%) -- "in the pursuit of the U.S. Army’s Modular Handgun System, or MHS, solicitation to replace the M9 standard Army sidearm have been notified by the Department of the Army that our proposal was not selected to advance to the next phase of the competition," the company says in an SEC filing.
    • That program hasn't been included in Smith & Wesson's guidance, it said.
    | Fri, Sep. 23, 6:49 PM | 35 Comments
  • Wed, Sep. 21, 10:21 AM
    • The U.S. Marine Corps Common Aviation Command and Control System, built by General Dynamics Mission Systems (GD +0.1%), successfully completed an operational test during a Marine Corps Weapons and Tactics Instructor Course in Arizona.
    • CAC2S is a command and control system that integrates information from various aerial and ground-based radar systems and sensors to enable greater joint interoperability.
    | Wed, Sep. 21, 10:21 AM | 1 Comment
  • Thu, Sep. 15, 10:36 AM
    • General Dynamics (GD +0.9%) has won a $15M contract from the Air Force Research Laboratory to develop a cloud-based threat detection and analysis platform.
    • The prototype will help analysts reduce delays in data access and extraction and provide analyses for faster delivery of enhanced intelligence.
    | Thu, Sep. 15, 10:36 AM
  • Fri, Sep. 9, 7:53 AM
    • Four U.S. senators have introduced a joint resolution seeking to block the U.S. sale of $1.15B of Abrams tanks and other military equipment to Saudi Arabia, citing issues including the conflict in Yemen.
    • In August, 64 members of the House of Representatives signed a letter urging President Barack Obama to delay the sale.
    • The U.S. Defense Security Cooperation Agency, which implements foreign arms sales, said that General Dynamics (NYSE:GD) would be the principal contractor for the sale.
    | Fri, Sep. 9, 7:53 AM | 6 Comments
  • Wed, Aug. 10, 2:40 PM
    • General Dynamics (GD +1.4%) is upgraded to Outperform from Market Perform with a $180 price target, lifted from $168, at Bernstein, which says GD shares are trading at the largest discount to other major defense companies since 2002.
    • While acknowledging that GD's Gulfstream private jet business will be hurt by weak trends, Bernstein believes that a "highly pessimistic scenario" for the sector should be already priced into the stock at current levels.
    • Meanwhile, GD's defense business should expand going forward, driven by a rising U.S. defense budget along with increased demand from foreign countries, and its IT business has exceeded expectations, the firm says.
    | Wed, Aug. 10, 2:40 PM | 2 Comments
  • Tue, Aug. 9, 11:04 AM
    • The U.S. State Department has approved the potential sale of more than 130 Abrams battle tanks, 20 armored recovery vehicles, and other equipment to Saudi Arabia, worth about $1.15B.
    • The Defense Security Cooperation Agency said the sale would contribute to the U.S. by improving the security of a regional partner and added that General Dynamics (GD +0.4%) would be the principal contractor.
    | Tue, Aug. 9, 11:04 AM | 1 Comment